Form 4: Piedmont Office Realty Trust Director Frank McDowell Reports Stock Transactions
SEC Form 4 Filing
Director Frank McDowell reports the vesting and settlement of restricted stock units and associated tax withholding.
Summary
- Frank McDowell, a director of Piedmont Office Realty Trust, Inc. (PDM), reported transactions involving the company's common stock on May 7, 2024.
- These transactions include the vesting and settlement of 15,220 restricted stock units (RSUs) which converted into common stock.
- McDowell also forfeited 4,906 shares to cover tax withholding obligations related to the vesting of the RSUs.
- Following these transactions, McDowell directly owns 85,661 shares of PDM common stock.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to stock transactions, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transaction has a minor dilutive effect on existing shareholders due to the issuance of new shares.
- The tax withholding benefits the government.
Key Dates
| Date | Description |
|---|---|
| 05/10/2023 | Reporting person was granted 15,220 restricted stock units. |
| 05/07/2024 | Restricted stock units vested at the 2024 Annual Meeting of Stockholders. |
| 05/07/2024 | 15,220 restricted stock units were settled in PDM common stock. |
| 05/07/2024 | 4,906 shares were forfeited to satisfy tax withholding obligations. |
| 05/08/2024 | Date of signature for the Form 4 filing. |
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